As a member of the C-suite, keeping up with the rapid pace of change in financial services is one of your biggest challenges. Add in the constant stream of new regulations, and it can start to feel like a full-time job. Compliance is essential, but it can also be overwhelming and very complicated.
That’s where a compliance consultant can make a real difference – a cost-effective expert who can help make sense of it all. Let’s break down why bringing in a compliance consultant in 2025 is a smart move for any FCA-regulated firm.
Save Money, Get Expert Help
Hiring a full-time compliance officer can be pricey, especially for smaller firms. Additional costs associated with hiring a full-time employee can include:
Annual Leave.
Sick Leave.
National Insurance costs.
Training and development costs.
Compliance consultants give you the expertise you need without the full-time cost. Whether you need ongoing help, advice for a specific project, or just an occasional check-up, they’ve got you covered. You only pay for what you need, making it a budget-friendly option.
In saying that, you get what you pay for!
Compliance consultants come in various forms, with some specialising in specific areas. It’s crucial to choose the right compliance consultant or compliance consultancy that aligns with the specific needs you’re addressing. A good compliance consultant will help your business understand and comply with the relevant regulatory requirements, guiding you through creating policies, procedures, and support programs that enable you to meet your obligations effectively. Their services can include everything from conducting risk assessments and health checks to developing comprehensive compliance frameworks and training your staff.
Do some research on any compliance consultant or compliance consultancy you want to use and put some feelers out into the industry to see who else has used them. This can give you a clear picture of capabilities, output and customer service levels.
Staying Ahead of FCA Rules
FCA regulations are always evolving and becoming more complex with requirements like Consumer Duty, DORA, tighter rules around financial crime, and AI. Compliance consultants specialise in staying on top of these changes so you’re not alone.
Here’s how they help:
They know your industry and what the FCA expects.
They make sure you’re ready for new rules before they hit.
They take the stress off your team so you can focus on running your business.
Compliance consultants bring a wealth of expertise and up-to-date knowledge of the latest regulations and best practices. This ensures that your business is not only compliant but also ahead of any changes in regulations, reducing the risk of penalties or regulatory issues.
They’ll help you plan, so you’re not caught off guard.
Manage Risks Like A Pro
Regulatory slip-ups can cost more than money. They can hurt your reputation and your relationships with clients. A compliance consultant brings a fresh set of eyes to spot risks you might miss.
They’ll help you:
Review your business from end-to-end and identify your main risks.
Strengthen your processes and controls.
Keep all your documentation in order for FCA checks.
For example, the Consumer Duty requirements mean firms need to do more to put customers first. A compliance consultant can:
Show you how to build Consumer Duty into everything you do.
Find areas where you can improve.
Train your team to meet the standards.
By identifying potential hazards and compliance issues early, compliance consultants help prevent costly fines, legal fees, reputational damage and even business closure.
Free Up Your Time
Compliance can be a time drain, especially for smaller firms with limited resources. A compliance consultant takes care of the heavy lifting, giving you more time to focus on growing your business.
They can:
Automate repetitive tasks.
Set up easy-to-use systems for monitoring compliance.
Keep your leadership team in the loop with regular updates.
Compliance consultants take on this burden, allowing business owners and managers to focus on core operations. However, it’s important to remember compliance within your firm is YOUR ultimate responsibility. Compliance consultants are there to help and assist, but the “tone from the top” still applies here.
Customised Solutions
Every firm is different. Whether you’re a financial advisor, hedge fund, payments provider, or fintech start-up, compliance consultants tailor their advice to your needs. They understand your unique challenges and work with you to create a plan that fits your business.
Compliance consultants tailor their services to fit the specific requirements of your firm, ensuring that solutions are both practical and effective.
Get Ready for FCA Regulatory Interviews and Meetings
FCA meetings and interviews can be stressful, but a compliance consultant can make sure you’re prepared.
They’ll:
Run mock interviews to find any weak spots.
Check your policies and records to ensure they’re complete.
Give you practical advice to get everything in shape.
Improved Compliance Culture
Good compliance consultants can help foster a culture of compliance within your firm. This can lead to increased employee morale, reduced absenteeism, and a more productive workforce, as employees feel safer and more valued.
Wrapping Up
In 2025, working with a compliance consultant is a no-brainer for FCA-regulated firms. They’ll save you money, reduce risks, and free up your time, all while making sure you’re on top of the latest regulatory requirements. With their help, you can focus on what you do best — growing your business and serving your clients.
Ready to make compliance less stressful?
Contact us and schedule a free consultation to find out how Compliance Angle can help you stay on track and ahead of the game.
Call us on 07427792594 or send us an email at info@complianceangle.co.uk